LendingClub Corp. (LC), the parent entity of LendingClub Bank, along with Pagaya Technologies Ltd. (PGY), announced on Wednesday their acquisition of the intellectual property formerly owned by Tally Technologies, Inc., a company that ceased operations in August 2024.
LendingClub intends to leverage Tally's technology to expedite the expansion of its platform, which specializes in providing customers with solutions for reducing debt costs. Meanwhile, Pagaya plans to integrate Tally's offerings into its white-label B2B services, thereby enhancing its suite of advanced credit management solutions.
Presently, LendingClub's shares are priced at $11.61, reflecting a 1.57 percent increase on the New York Stock Exchange. Similarly, Pagaya's shares are trading at $10.27, marking a rise of 1.38 percent on the Nasdaq.
